(3/23/2011)
Hong Kong-based VIVALAVI Holding Group have announced they will build an integrated resort in the Jembrana regency of Bali at a cost of US$30 million.
The resort will be operated under the brand 3V Rening Bay.
The chairman and CEO of VIVALAVI Holdings Group, Franck Girardot, told Balidiscovery.com that the groundbreaking for the project took place on March 1, 2011.
The first phase of the project will utilize 3 hectares dedicated to 8 villas and 12 apartments with a capacity of 50 rooms. For the first phase a total of US$10 million will be spent and 100 employees will be on the payroll by the end of the year.
Phase two of the resort will occupy 8.5 hectares to host 146 rooms at an additional investment of US$20 million. These units are being sold to owner-investors at a promised annual return on investment of 8%.
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